Mr. Macron’s pledges to loosen labor rules, make France more competitive and deepen ties with the European Union helped the euro rise to its highest point in months.

Asian markets rose after his victory, too, but they were helped by a strong jobs report in the United States on Friday, and the Nikkei 225 in Japan was catching up after being shut for public holidays.

The euro later pared its gains — partly because the result had probably been priced in and partly because of worries that Mr. Macron, who has never held elected office, may face difficulties fulfilling his promises.

Enthusiasm waned when European markets opened, with the CAC 40 in France and the euro sliding a little as investors apparently opted to focus on the challenge of getting changes through the French parliament, The Wall Street Journal and The Financial Times reported.

Sinclair Said to Near Deal for Tribune Media

More than a third of local television stations in the United States could soon be controlled by a single company.

Sinclair Broadcast Group is close to a deal for Tribune Media, according to people briefed on the matter. An agreement could be announced as soon as Monday morning.

If Sinclair secures the acquisition, it will have emerged from a field of potential bidders that included 21st Century Fox and the Nexstar Media Group. The deal is expected to value Tribune at about $3.8 billion.

Fox ultimately chose not to make a bid, according to people familiar with the matter.

Peter Rice, chairman of Fox Networks Group, said at a conference last week that the company was interested in Tribune because “having more scale and more control of distribution is important,” according to Reuters, which earlier reported that Sinclair had been close to a deal.

With the purchase, Sinclair would have the advantage of controlling more Fox affiliates than any other station owner in the United States.

It would also give the company more power over cable providers, which pay to retransmit stations’ broadcasts.